SMEs
The committee is eyeing bigger contribution by SMEs to the national economy in order to reach 80 to 90 percent as in some major countries, Shafie said, noting that in Egypt it only stands at 20 percent.
Saad pointed out that the fund's focus now is investing in green economy as well as cooperating with the private sector.
Egyptian Exchange (EGX) indices went down collectively at the close of Thursday's trading, pushed by sales by Arab and foreign investors, amid anticipation that new incentives would be introduced for the market.
Haya Karima initiative has dispensed loans worth L.E.844 million for small and micro enterprises since its launch in 2019.
Egyptian Exchange (EGX) indices showed mixed performance at the close of Wednesday's trading.
Coordination has been made with the German side to obtain a grant of € 3 million, within the scope of financing the special initiative for employment and training, to finance the project "Partnership to create jobs and support small and medium enterprises in the Arab Republic of Egypt."
Three Factors Highlighted as Crucial to Achieving Desired Security Outcomes: Enabling Business, Managing Risk and Operating Efficiently
The agreement was signed on June 22, 2020 and mainly targets youth and women.
An Egyptian-German partnership project to create jobs and support SMEs will offer grants to non-profit entities and partners in the public sector to remove investment obstacles, International Cooperation Minister Rania Al-Mashat said.
The deal inked in January is subject to the endorsement of the president.
CBE indicated that 81 percent of the facilities has already been used for the industrial, agricultural and service sectors for 126,000 small and medium-sized companies, in addition to microfinance for more than 900,000 micro-clients.
It had been decided to provide funding to more than 120,000 companies and establishments, which would create and maintain job opportunities of about one million jobs.
The Egyptian Exchange (EGX) gained about EGP 10.9 billion over the past week after its indexes went up collectively.
A crisis or a change in the business ecosystem can alter how an enterprise functions and can even terminate industries giving rise to others.
Gamea clarified in a statement, Sunday, that these projects provided 195,000 job opportunities.
The number of beneficiaries also rose slightly by 0.5 percent.
The units are located in the industrial SME's complexes, particularly B and C spanning over six million square meters southern the city.
A ceremony was held to celebrate the conclusion of the Support to Agricultural SME's Project (SASME) displaying funding and training provided.
As per financial services, women participation in the one-window services represented 29 percent of the total services, including issuing licenses, identification cards, tax statements and social insurance.
That is through the SME's funding program "Mashrouak" (Arabic for Your Project).
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